https://www.tradingview.com/x/SMjNSpDW/
Wow, incredible strength in Gold price right now. Will a correction occur? I no longer know. I am staying long for the medium term.
Wow, incredible strength in Gold price right now. Will a correction occur? I no longer know. I am staying long for the medium term.
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Gold / Silver & Precious Metals very bullish during Tuesday trading so far.Here is Gold's chart. It all looks bullishly healthy with occasional pullback on lowertime frame & then retests the highs. There is no topping formations on any timeframes that I can speak of.
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Gold price is looking healthy Long, still.A nice uptick in volume the last 30 minutes.
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The gold price just had a big liquidity run downwards to take out some Longs. Price is down around the 20ema on the 1HR chart. Things turn a little bearish when price forms up under the 50 ema on the 1hr.* Trading is risky. Don't rely solely on my financial advice.
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2500 is a strong support level for the gold price. There is plenty of previous price orders there... buy order blocks. Whatever this is, it's a temporary correction.Note
A small buy order in gold, selling seems to have settled. Don't bet too much in case the selling resumes. There is an alignment on the 5m and 15m oversold indicators ticking upwards right now.
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The price volatility has settled for now & that is a good thing. I would say the Gold price will park down in these green-buy-order blocks like a rocket landing slowly & then a move upwards can be made.Trade closed manually
Caution on trading Silver for the next day or 2.... this chart explains why? Negative hidden divergence on the Daily for Silver. It explains why the Silver price has gone to sleep. I want to see a sustained push up in price or there could be some red-seas for Silver tomorrow.Note
XAGJPY Silver is also very bearish on the Daily timeframe due to Hidden Stochastic Divergence. I am short on both.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.